Nevsun Resources (NSU) Shares Up 3.9%
Nevsun Resources (TSE:NSU) (NYSEAMERICAN:NSU)’s share price shot up 3.9% on Friday . The stock traded as high as C$3.01 and last traded at C$2.93. 635,096 shares traded hands during mid-day trading, a decline of 15% from the average session volume of 746,279 shares. The stock had previously closed at C$2.82.
Several brokerages have recently weighed in on NSU. Macquarie upgraded Nevsun Resources from a “neutral” rating to an “outperform” rating in a research report on Monday, November 13th. Scotiabank set a C$4.75 price target on Nevsun Resources and gave the company an “outperform” rating in a research report on Friday, January 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of C$4.00.
The company has a market cap of $852.24, a PE ratio of -13.41 and a beta of 0.25.
A number of institutional investors have recently bought and sold shares of the stock. Schroder Investment Management Group grew its position in Nevsun Resources by 5.9% during the third quarter. Schroder Investment Management Group now owns 2,291,699 shares of the basic materials company’s stock worth $6,234,000 after buying an additional 127,338 shares in the last quarter. Global X MANAGEMENT CO LLC grew its position in Nevsun Resources by 34.5% during the third quarter. Global X MANAGEMENT CO LLC now owns 677,324 shares of the basic materials company’s stock worth $1,462,000 after buying an additional 173,800 shares in the last quarter. Vanguard Group Inc. grew its position in Nevsun Resources by 5.2% during the second quarter. Vanguard Group Inc. now owns 5,867,806 shares of the basic materials company’s stock worth $14,142,000 after buying an additional 291,317 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Nevsun Resources by 1,040.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 388,286 shares of the basic materials company’s stock worth $838,000 after buying an additional 354,252 shares in the last quarter.
About Nevsun Resources
Nevsun Resources Ltd. is a base metals company. The Company’s two principal properties are the Timok Project in Serbia, which hosts the copper-gold Cukaru Peki deposit on the Brestovac-Metovnica Exploration Permit (the B-M Permit) and the Bisha Property in Eritrea, which hosts the copper-zinc-gold Bisha deposit and includes satellite volcanogenic massive sulphides (VMS) deposits at Harena, Northwest, Hambok and Asheli.
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